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"Europe Can't Afford A Greek Exit" German Opposition Warns Merkel Is "Playing With Fire"
The mainstream media narrative - that Germany is ready and prepared for Grexit and that it is no longer a threat to financial stability - is all hype, according to German opposition finance minister Joachim Poss. As Bloomberg reports, all that is mostly posturing for an electorate tired of the aid and angst Greece has demanded since 2010. Simply put, the potential for Euro instability from a Grexit is a detriment to Germany's massive benefits from the single currency - "Europe can’t afford a Greek exit," Poss concludes, complacency by Merkel is "playing with fire."
A reading of the German press suggests Chancellor Angela Merkel is at peace with the idea of Greece quitting the euro. Der Spiegel says her government views that as a manageable outcome; Bild reports that officials are preparing for the prospect. Lawmaker Michael Fuchs says Greece is no longer a threat to financial stability.
All that is mostly posturing for an electorate tired of the aid and angst Greece has demanded since 2010. In fact, Germany has no interest in risking the dissolution of the single currency that a Grexit could entail.
That’s because the status quo is a boon for Germany economically and politically. Indeed, the biggest European economy benefits more than most of its fellow euro members from the single currency. While a Greek departure alone may not end the euro, the risk would be of contagion through the bloc’s financial markets that forced others out.
If it had to return to the deutsche mark, German exporters, which account for about half of gross domestic product, would become much less competitive and Merkel’s prized current-account surplus would shrink. Inflation would weaken further.
...
On the geopolitical stage, Germany would also see its star dimmed. Former U.S. Treasury Secretary Timothy F. Geithner last year identified German Finance Minister Wolfgang Schaeuble as the go-to-guy for the U.S. during Europe’s crisis. Russian President Vladimir Putin would also welcome strains on the continent.
“Europe can’t afford a Greek exit,” Joachim Poss, the Social Democrats’ deputy finance spokesman in the German parliament, said in an interview this week. Suggestions by allies of Merkel that the 19-nation currency bloc could weather Greece’s departure amount to “playing with fire,” he said.
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It appears for now that investors believe Grexit is increasingly possible...
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I am fucking tired of this EU shit. Whether Germany or France or the PIIGS. Let it crash already and do us all a favor, take Yellen with ya.
Angela Merkel
Judi Dench
Who is hotter?
Why Nuland isn't on the list?
Psaki, by a blind mans' country mile.
Is that Poss or a POS there in Germany?
told ya for weeks, cannot happen. simply cleaver, this is open gates for global domino. the system is not allowed to crash.
period.
@ todays Tyler
You might check first if Joachim Poss in an opposition politician in Germany. In fact he´s a member of one of the two ruling parties, SPD. Just sayin.
They both smell like elderberries and their father was a hampster.
i agree, and I fart in their general direction.
fucking ugly tomatoes.... Sun dried tomatoes too.
The theme for 2015 is shaping up to be 'The Big Bluff."
Oil producers that won't cut, to the FED saying they'll raise rates, to Merkel and Greece staring each other down.
So, poker players, tell me, what happens when everybody at the table is bluffing, but they all know everyone else is bluffing?
Judi, by far, she was hot back when, Angela in her best looked like that dyke in "From Russia With Love" with the blades in her shoes.
The question is really can Europe afford to keep Greece IN the fucking EU ?
Along with Spain , Portugal , Italy , France , Oh fukkit , ???
The European Union is primarily a political project, not an economic one. It will act accordingly.
When the Greek electorate goes to vote in a few weeks, we'll know more about what its future holds.
Indeed. The monetary union is taking a back seat to political union as an American puppet state. NATO is what matters, not Greece.
As you say, we will only know where this is headed when Greece votes and a government is formed. No left wing party can be allowed to rule an EU nation, no real leftists, because their policies would force their ejection from the EU. The EU has rules, they must be obeyed, or membership is revoked. The USA want Greece in, because Greece is NATO, and NATO is what matters, not the EU economy. Or at least as seen from Washington DC.
It's an instrument for debt enslavement under central control. Every 'bailout' creates more debt, stripping the wealth of nations. You don't like being trapped in our web? "Tough shit," said the spider to the fly. "Welcome to the NWO, Bitchez."
and you are again mixing up all the main european clubs, i.e. NATO, EU and eurozone
Norway, for example, is a staunch NATO partner. Is it in the EU? no. Is it in the eurozone? no
has Norway a friendly, trusting attitude versus Russia?
Explain Norway to me
or explain why Greece would leave NATO, independently from a restructuring of debt or a membership to the eurozone or that to the EU
or explain why Tyler thinks that CDSs matter, since they matter only to a fraction of the Greek debt, or if CDSs would/could ever be paid, in the case of default
or explain to me why CDSs would be a fair, untampered and free market, while we are still watching how manipulated the FX and other markets are
yes, Washington pushes, pushes and pushes more. believe it or not, we western europeans are used to Uncle Sam pushing, hard. it's nothing new
no, your simple assumption that our clubs where Washington is not a member are Washington's needs some explanation
for example how it comes that Brussels makes such a fuss about US/UK spying on it? that thing is not under the carpet, just out of the news
All three organizations you mentioned -- NATO the EU and emz are all tools used to usher in a one world government.
It's why many of us are so vehemently opposed to all three.
When nations give up sovereignty to a "larger" entity -- someone runs said larger entity. While "Europeans" tend to believe it is for "world peace" (how Mrs. America of them) the idea that such a move could be sinister in nature is either 1) never considered or 2) too easily dismissed.
you are somewhat explaining your opposition, which is fine for me, but not the questions I've posed, methinks, nor that thing about "one world government" you bring in
which is funny, then for a time I thought this thing is a kind of code for the US, with people not wanting to write it out, like "Washington's Domination of The Earth"
sovereignty? sometimes I have the impression that my stance is more protective of sovereignty then yours or that of many here, particularly the anarchists
I might be mistaken, but there is it, it's an impression
Norway is way way too far left to be in the EU/EMZ......Its pretty much the model for the New World Order, true wealth distribution propped up by dwindling north sea oil.
Political projects are not exempted from the gravity law of economics ! Right now they still believe they are... Reality will keep beating sense into their thick skulls until they'll get it... eventually.
or the skull and bone type will beat the crap into them, no?
"The European Union is primarily a political project, not an economic one."
In other words if reality disagrees with out views so much the worse for reality. When I hear things like "political decision" or "political capital" I cringe because I know that the decisions are not based on reality but dogma, fantasy and a quick reelection attempt.
Everyone seems to assume that Germany still wants the Euro in its present form. They could be wrong. Greece may prove to be the perfect opportunity to reshape the Eurozone and shifting the blame at the same time.
I listened to an interview today, sorry I can not remember who it was but an interesting point was brought up.... There is no legal mechanism for one member country to "exit" the EU. Supposedly once you're a member, the exit door is locked behind you.
"And the Key Swallowed"
Roach Motel but with a chocolate on your pillow.
Just like in the United States where the Constitution is silent about states leaving the union meaning the decision is legally a state decision. The FEDS will always decide that once in, you have entered Hotel California and there is no way that they will let you out, damn that worthless piece of 1791 parchment.
Welll Marbury versus Madison sure isn't looking too good here.
Maybe we could turn it into a dance club or something?
Yeah, the Prick Lincoln and his Northern Aggressors. I don't know who I respect the most, Booth or Aaron Burr. The more I learn of the central bank traitor, Hamilton, the more Burr looks like a real patriot.
Aaron Burr was slime.
that's just a fact. AH's wife loved her man and he shot a hole through America that day.
Lincoln is above my pay grade. His 2nd innaugural is one of the greatest speeches written in the English language. Sure he was doomed after Antietam..."the greatest battle no one has ever heard of." But there he is...staring Congress down.
There are no memorials to Sherman, Grant or Lee.
There should be.
They learned how to make peace too.
We really can have a Judgment Day here in my view. Somewhere out there maybe there's a Judge who actually thinks about that....
Yes, NH has "the right to secede" written into it's state law.
Don't be obtuse. If it's not Forbidden, it's allowed.
"obtuse"? Bet you waited all week to use that word, hugh? Good for you Johnny, you get a gold star next to your name today.
Eu is cooked with or without Greece. He he
You mean GREASE don't ya?
Greece is the word, John Travolta said so.
Can we get Mr Yellen in the Islamic political cartoon business? That would be a hoot to see.
Yellen is, as we speek, setting sail for the island of Lesbos to see if she can mitigate this looming disaster.
As I see society in 2015, probably the most crowded place on plant earth will be Lesbos island! Wonder why it's hard to get a date men? No, it might not be you. Look around you! Lesbos is THE thing.
Now that was a depressing read. I am going to imagine a sarc tag at the end and have a drink to try an purge my mind.
Miffed
With you, Miffed. Weirdness abounds.
So, we'll clone the straight ones that look like Sophia Loren and about 50 others that come to mind. Farque the libbers.
Does she speak Greek, or is she a cunning linguist?
Greece should hook up with Russia. They are both Orthodox Christian. Maybe Greece can get their act together. Staying in the EU is endless lingering death.
Yes, but they'd have to re-work out all their laws and regulations down to the local level. The country is a mess because of this. Trash all the laws and start over is the only way.
Corruption (particularly in the forms of tax evasion and bribes) has been a major issue in Greece.
Since a long long time ago.
What will change any system ?
Corruption in the form of over taxation and and overcomplicated bureaucratic system has always been a major problem in Greece and becoming an increasing problem in the EU and the US.
Tax avoidance is a long tradition in Greece, and preceded their joining the EU.
That's why their economy has always been 'so-so'. But, admittedly, it has never been this bad since WW2.
fucking greek peasantry...
KILL YOUR POLITICIANS AND BANKERS FOR FUCKS SAKE...
There always hope... in Albania...
Hoooray Albania!
Why ask them to do what you won't?
Completely agree. Germany isn't serious. They are trying to pressure Greeks who don't want to leave the Euro into voting against Syriza. Syriza is smartly using the Euro against the Germans and they will win if they stick with it.
In any case, the Germans are bluffing big and walking on a razor's edge. I may not agree, but can appreciate the balls.
As Mr. Panos would say:
"Fuck you Mrs. Schnitzelface. Thank you for the money you owe Greece. You think we forget your little vacation in our beautiful country in WWII?"
What about the invasion of your beautiful country after WWII?
o.0 <-- Panos...
The early ending of the new political control?
Thanks for the link. Within that page is another link to a very interesting video on by Adam Curtis (Century of Self, The Power of Nightmares and
All Watched Over by Machines of Loving Grace)new system of political control utilising confusion http://failedevolution.blogspot.gr/p/blog-page_5441.html . The transcript is avaliable here: http://www.realclearpolitics.com/video/2014/12/31/bbcs_adam_curtis_on_th...
Explains a lot about the contradictory nature & lack of a coherent narrative in the MSN & ALT media.
Thanks. Adam Curtis' documentaries are always very interesting indeed.
This is like watching a single swimmer trying to rescue a drowning person,both are going to die...
Referring to Timothy F. Geithner as an expert on anything is self defeating.
Germany sucks under the NWO and Goldman Sachs.
" all that is mostly posturing for an electorate tired of the aid and angst Greece has demanded since 2010" Excuse my shock, but for fuck's sake, Merkel is giving Ukraine 1/2 billion in a cash gift, and Ukraine wants 15 billion more. Merkel says the EU must support Ukraine to counter aggression from Russia! If the EU is tired of bailouts to Greece, what the fuck will they say about ten's of billions sent to a beggar nation where they refuse to work, make nazi marches in Kiev, wage war in Donetsk, steal EU gas and ask for money handouts for the next 25 years going forward? If Greece wore them out, how will the EU taxpayer feel about funding America's war on Russia? Merkel is a CIA agent, acting as head of Germany. The NSA has enough on that former young communist leader to hang her out to dry.
Good points, however I would merely note that what a diplomat says publicly and what their government actually believes are two quite different matters, particularly in this new era of US sponsored deception, chaos, economic incompetence and blackmail pissing off a lot of countries worldwide. They can smell the coffee too. Times are a changing.
Merkel is a shill doing the bidding of the US, she will drag Germany into the abyss.
Merkel is a sock puppet. I believe her speeches on foreign policy are written by the CIA. She does not miss one talking point. She talks like the Red Army has Berlin surrounded, and she is in the bunker with Hitler. Merkel can't find any Nazis in Kiev? She misses the recent"million NAZI tourch light march" in Kiev??
Jack - you are on a roll tonight. All of it is sadly true. Greece for all it's faults, did not have a coup and start shelling the other side of Greece with artillery like the scum in Kiev.
Merkle gets hated for trying to "impose her will" on Greece and then vilified when she tells them to go their own way.
fixing this whole fkin thing for next couple months and do it over again?
are this adults serious?
In Japan,the Pension funds ARE ALL IN!! ------ JGB's
In Germany,the Pension funds ARE ALL IN!! ----- Eurobonds
In the USA,the Pension funds ARE ALL IN !! ---- Stocks
When this sucka blows,there will be a few pissed off geriatrics.
In Japan they won't even have staff for the nursing homes.
I read somewhere's that just prior to WW1 the world was heavily armed.
How are we doing with the arms inventory these days?
Wilson looked the other way while JP Morgan made loans to the Brits so they could purchase shells and other arms with the cash,made in USA.
Just Google secret cargo manifest,Lusitania explosion.
As someone said,"History doesn't repeat,but it does rhyme".
Here's the (3) ECB /QE ideas from RTRS. I don't think Germany is going to like any of them.
Greece would be better off without the Euro. The only problem is that her scummy politicians have no working plan as to what to do the day after an exit. They are simply hoping that the EU will hand them the keys to the safe.
au contrair, they will be rendered a pariah state. EU bureaucrats will make an example out of them, so that nobody else would get any weird ideas that they would be better off outside the EU. can any of you imagine greece in even worse state than now?
" her scummy politicians "
There is a restauran chain that offers fried bollocks on greaseproof paper instead on a plate. My suspicion is what most indignant Greeks are calling for
Politicians' bollocks on Greaseproof paper as an appetiser.
The final solution to the Euro problem cannot be solved by bringing back the Deutsche mark; it requires bringing back the Reichsmark.
This is very true. However most people will assume you mean something else due to the word choice, but this is spot on.
you have to love the hilarity in the headline, (Europe can't afford a Greek exit).
why, is the ecb. on a strict allowance, just as the fed.?
it seems to me, the us., eu., and great Britain govt.'s have been doing a lot of things for 6 yrs. we can't afford, that's the plan.
are there as many Germans, and British, as there are Americans that don't understand, anything pertaining to your govt.'s, and fewer, and fewer of your personal financial decisions, you don't have a say?
can the us. afford what it's doing, how about great Britain, or japan?
Americans, British, Germans, and Japanese, are living in financial totalitarianisms.
I wounder if for ECB QE they choose 3rd option and make each countries central back put the bonds on their own books, being allowed to buy an amount equivelent to they allocation key at ECB. So if 500 bill package 18% germany about 10-15% France/Italy/Spain and 3% Greece..
In this type of arrangement Gemany may not acutally buy their bonds (just leave the option open) to differentiate themselves from other EU members..
The Greeks could be forced to buy from currenct ECB holdings, so Germans would be happy of the reduced risk from ECB balance sheet to bank of Greece..
so who plays duke ferdie this time?or is it ferdicopolis?
MERKEL is just like a woman but she breaks down like a little girl. BOB Dylan. She will cave.
Merkel is just like a woman....
hahahaha Fuck off. You can fuck a woman, You couldn't fuck that
What the fuck is a Grexit? Is it that we're that lazy as humans that we can't actually write and sound it out accordingly, or do we just have to create cute names to etch our place in history as journalists? Somewhere there's a fag drinking an apple-tini bragging that he coined the phrase, only to find out in horror the guy he's speaking with one-upped him and previously invented "Bennifer" and "Brangelina". Shit!
merkel is a joke.she sold out a long time ago
look at who she is surrounded by e.g. steinmeier, gabriel
there is no vision. DE is rudderless.
Lavrov got it right when he said something to the effect that the EU has not declared independence from the US
Maybe Frau Merkel et al might consider this - http://english.pravda.ru/russia/politics/12-11-2014/129015-russia_nato_nuclear_surprise-0/
Maybe Hollande has already considered this "situation", and is starting to "put out feelers" to "improve" Franco-Russian relationships, especially in view of Mr Putin's interesting proposals - http://www.zerohedge.com/news/2015-01-04/russias-startling-proposal-europe-dump-us-join-eurasian-economic-union
There is a LOT going on, and we all are only privy to the occasional small snippet of information. What would (or even could) the US do if the EU decided the time was right to side with Russia / Asia? "Attack Europe / Russia / China"?? The US wouldn't have a snowflakes' change of "winning" a conventional war in Europe should this occur, and escalation to nuclear would mean very permanent "lights out" for all North America.
One wonders just what is going on behind the scenes, and just what direction those "unintended consequences" of the "sanctions against Russia" are pushing political, and no doubt influential public, opinion, especially in the likes of Italy and Germany (major traders with Russia).
No doubt we'll find out soon enough.
Merkel is a stasi bitch. She sucks the neo con cocks.
Greece doesnt do as its told she will no doubt put on her boots and tell the Germans to start Zeig Heiling, and its off to Greece we go.
Hitler gave her the template.
Vote wrong again my Greek friends and the Nazis will come and no revote allowed in case you get wrong one more time
your parents must be living in shame seeing how you turned out
We CAN afford a Greek exit, what we can't afford is to let the Greek banks to default on their Euro obligations to small DEPOSITORS (this would trigger bank runs in all the remaining PIGS). Bailing out the Greek depositors would be a pretty small tab, after that is done a Greek exit could be done pretty smoothly without crashing the Greece or European economies.
Greece and Greek banks defaulting would bankrupt banks across Europe of course, but we can afford to bail out their small depositors as well. We can't afford to bail out savings of the 0.1% of course, but neither in production nor consumption are they relevant so the economy won't care.
The 0.1% aren't really interested in bailing out small savers at the expense of their assets though ... so we are between a rock and a hard place.
The EU is so fixed in the ideology that cannot face the reality that now it is Greece with un umpayable debt and tomorrow other countries will be in the same position . We have seen that the Troika and the EU want the debt repaid at any cost even at the cost of a population rendered slave for decades . That is not acceptable .
The debt should be totally cancelled because it is tollet paper . The fault is in the financial system corrupt to the core as demostrated by the LIBOR and FOREX scandals that cost nations and the public trillion do dollars .
The origin of the disaster is the money printing and the interest to be paid on money invented by banksters of intrinsic value next to toilet paper with ficticious value printed on it up to 500 euros .
The prospect that other countries unable to pay the debt might suffer the same fate as Greece shoudl be an inducement to escape the EU ASAP . Better outside than be forced to pay extorsion maney to the bankstesrs
Greece is no more of a joke than the rest of the EU member countries.
Germany is equally shit-for-brains when it comes to their membership
in the EU. Frankly, every EU country knows they are now the 'monkey-in-the-middle' of World War Three and they are all desperate to try anything to change that fact before they are nuked the fuck off planet Earth entirely. These assclowns all throught they could 'trade credit cards' and go out for diner on one another's credit without ever paying the bill afterwards. Their 'dine n' dash' mentality has come home to roost right in their very lap and I can't wait for them to be fried to fucking toast by the nukes that will undoubtedly fall on their stupid
mindless central nervous systems in short order.
FUCK the EU and the motherfuckers that no longer actually run it.
DIE DIE DIE de Rothschild Bank
Up yours, EU.